Amenity Analytics, a New York-based startup developing what it describes as a “text-mining” AI platform for enterprise, today announced that it’s raised $18 million in series B financing led by Starr Companies, with participation from Allstate, Intel Capital, and State of Mind Ventures. It brings the company’s total raised to around $25.6 million, following a $7.6 million series A round in 2017, and will help further grow its team, said CEO Nathaniel Storch.
“Some of the most sophisticated minds on Wall Street already trust our technology to uncover insights that give their investment strategies an edge,” he added. “Over the past year, we’ve assembled a dynamic team who has delivered a product that is only scratching the surface of its capabilities.”
Storch, a former Wall Street analyst and portfolio manager, founded Amenity Analytics in 2015 with Ronen Feldman, a professor at Hebrew University in Israel, and Hedva Feldman, who previously served as software department head at Matrix. The startup’s cloud-based platform, which is currently in beta, taps natural language processing (NLP) to detect sentiment, key commentary, and statements of apparent deception in news coverage, social media activity, and research reports for Fortune 100 clients. Current customers include Barclays, Citi, Evercore,Read the rest of this post here